US-based private equity firm Blackstone and Walt Disney have engaged in initial discussions regarding a potential stake acquisition in Disney’s Indian business. This comes shortly after Disney explored conversations with Indian billionaires Gautam Adani and Kalanithi Maran, examining the prospect of selling parts of its Indian operations or various assets from the unit. According to insiders familiar with the matter, Blackstone-backed US media firm Candle Media, founded by former Disney executives, played a leading role in these discussions last week.
Disney’s Indian business has been confronted with subscriber attrition, which intensified during the Indian Premier League (IPL). The company lost streaming rights to the tournament, allowing Jio to provide free streaming on Jio Cinema. To reinvigorate its presence in India, Disney recently initiated free cricket streaming on smartphones and introduced features for the ICC Men’s Cricket World Cup 2023. These features encompass enhanced live feeds, video streaming, AI-driven video clarity enhancements, and MaxView for portrait-mode match viewing, developed in collaboration with the ICC.
The company also introduced an “Always-On Cricket Scorecard Pill” to allow users to track live cricket action while enjoying other content on the app. In July, reports indicated Disney+ Hotstar’s intention to implement a new policy limiting premium users to log in from only four devices. The discussions with potential partners or investors suggest Disney’s efforts to address the evolving landscape of its Indian operations, potentially seeking ways to stabilize its subscriber base and revenue streams in this vital market.
